Ghana Tax Data Card 2019
Ghana Tax Data Card 2019
As tax laws and regulations revolve we recognize it may be hard to keep up with these changes. At KPMG, we are committed to updating our clients and the general public on the tax landscape in Ghana. We are pleased to announce that our 2019 Tax Data Cards are available on our website. These data cards offer snapshots of key tax issues that may interest you. Should you require any assistance, please contact us.
WHY THIS MATTERS
The KPMG Tax Data Card provides a brief insight into the Income Tax Act, 2015 (Act 896), including the subsequent amendments to the Act.
It is important to note that, most of the taxes initiated in the 2017 Budget Statement which is to create a conducive business environment have been enacted into law.
Recent and new amendments are as follows:
- Exemption from tax on gains from the realization of securities listed on the Ghana Stock Exchange.
- Repeal of taxes and levies on petroleum and petroleum related products.
- Removal of 1% special import levy payable on specific imported goods.
- Removal of 17.5% VAT/NHIL on financial services, selected imported medicines (not manufactured in Ghana) and on domestic airline tickets
- Reduction of VAT/NHIL for traders from 17.5% to 3% flat rate and Special Petroleum Tax from 17.5% to 15%, and
- Introduction of the VAT flat rate scheme.
Contact Us
For additional information or assistance, please contact
Emmanuel Asiedu
Partner, Tax
Tel: +233 (302) 770 454
E-mail: easiedu@kpmg.com
Kofi Frempong-Kore
Partner, Tax
Tel: +233 (302) 770 454
E-mail: kfkore@kpmg.com
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